United States Cordless Power Tools Markets 2021-2026 - Rising Number of DIY Projects / Advances in Lithium-Ion Batteries / Increasing Use of Fasteners
DUBLIN, Oct. 19, 2021 /PRNewswire/ -- The "US Cordless Power Tools Market - Industry Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The cordless power tools market by revenue is expected to grow at a CAGR of 9.49% during the period 2021-2026.
The increasing demand for efficient power tools is gaining traction in the global market. The surge in the infrastructure and the construction sectors is a boon to the power tools market that will enforce innovations in the future. NiCd, NiMH, and Li-ion are some of the most common batteries widely used in cordless power tools. Advances in battery technology are enabling the introduction of new products and services in the industry.
South: The growth is supported by due to new construction projects and construction projects in the pipeline in the region. States such as Texas, Louisiana, Virginia, Georgia, North Carolina, Tennessee, Maryland, and Florida are the top states in this region that accounts for US construction project pipeline.
West: According to the National Association of Home Builders (NAHB) survey, the states West region of the US with the largest homes built are Arizona, Colorado, Idaho, Nevada, Utah, and Wyoming.
Northeast: Nearly 190,000 new privately-owned housing units are under construction in 2021. Vendors are expected to gain the opportunities in the Northeast region to boom the sale of power tools.
Midwest: Car production and maintenance operations are dependent on portable cordless power tools across the region.
The cordless power tools market in the US is moderately fragmented and is dominated by vendors, such as Stanley Black & Decker, Bosch, and TTI. The competition among the players will be based solely on features such as durability, technology, services, and price and customization.
Vendors must develop new technologies and remain upgraded with upcoming innovations to have a competitive advantage over other players. For instance, Bosch is the only vendor that offers cordless power tools that support inductive charging techniques Bosch is also trying to improve the accommodation for the DIY enthusiasts and other new target groups based on the user requirements.
The publisher believes that the global players will grow inorganically by acquiring regional or local players in the future. The adoption of cordless power tools among end-users in the US is impressive since their launch. The competition among companies is intensifying, leading to introducing innovative and advanced solutions in the industry.
- The DIY culture is one of the significant drivers for cordless power tools. The impact of the driver is more significant in US and European countries in 2020.
- The US is the leading exporter of manufacturing technology products, thereby surging the demand for cordless power tools.
- The drilling and fastening tools, demolition tools, and sawing and cutting tools segments are expected to contribute more than 55% to the incremental growth in the market in the upcoming years.
- Players are investing in new forms and fastening technologies for reshaping the requirements of fastening technologies. This is expected to drive the growth of the US cordless power tools market share.
Key Company Profiles
- Stanley Black & Decker
- Robert Bosch
- Techtronic Industries Company
Other Prominent Vendors
- Atlas Copco
- Apex Tool Group
- Koki Holdings
- IQ Power Tools
- Illinois Tool Works
- Ingersoll Rand
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 COVID-19 Scenario
8 Market Opportunities & Trends
8.1 Increasing Demand for Industrial Heat Guns
8.2 Technological Innovations in Industry 4.0
9 Market Growth Enablers
9.1 Rising Number of DIY Projects
9.2 Advances in Lithium-Ion Batteries
9.3 Increasing Use of Fasteners
10 Market Restraints
10.1 Fluctuations in Raw Material Prices
10.2 High End-User Variability
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 Tool Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
13 Drilling and Fastening Tools
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.4 Impact Wrenches
13.5 Impact Drivers
13.6 Screwdrivers & Nut Runners
14 Sawing and Cutting Tools
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Circular Saws
14.4 Reciprocating Saws
14.5 Band Saw
14.7 Shears and Nibblers
15 Demolition Tools
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Rotary Hammers
15.4 Demolition Hammer
15.5 Hammer Drills
16 Material Removal Tools
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
17 Routing Tools
17.1 Market Overview
18 Other Tools
18.1 Market Snapshot & Growth Engine
18.2 Market Overview
18.3 Dust Extractors
18.4 Heat and Glue Guns
18.5 Layout and Laser Tools
19 End Users
19.1 Market Snapshot & Growth Engine
19.1.1 Market Overview
20.1 Market Snapshot & Growth Engine
20.2 Market Overview
20.5 Electronics & Appliances
21.1 Market Overview
22.1 Market Overview
For more information about this report visit https://www.researchandmarkets.com/r/ad5byn
Research and Markets
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